Brief: Valoe Cuts 2020 Guidance

Valoe Oyj

10/11/2020 15:57

Nov 10 (Reuters) - Valoe Oyj  VALOE.HE :
    * REG-PROFIT WARNING: VALOE CORPORATION LOWERS ITS FINANCIAL GUIDANCE FOR 2020. THE COVID-19
SITUATION POSTPONES THE START OF CELL PRODUCTION AT THE VILNIUS FACTORY UNTIL DECEMBER 2020.
    * LOWERS ITS FINANCIAL GUIDANCE FOR 2020
    * ESTIMATES THAT VALOE GROUP'S NET SALES FOR 2020 WILL BE EUR 1.5 - 1.8 MILLION (IN 2019:
EUR 0.3
MILLION)
    * ESTIMATES VALOE GROUP'S OPERATIVE CASH FLOW TO TURN POSITIVE ON A MONTHLY BASIS DURING Q2
OF
2021
    * PREVIOUSLY ESTIMATED NET SALES FOR 2020 WILL BE EUR 2.1 MILLION, OPERATIVE CASH FLOW WILL
TURN
POSITIVE ON MONTHLY BASIS DURING Q1 2021

Source text for Eikon:  ID:nGNE6LGjNs 
Further company coverage:  VALOE.HE 

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